The State Oil Fund of Azerbaijan has started investing in gold bars of banks that are market-makers of the Association of the London Market of Precious Metals, Trend reports.
This includes banks, manufacturers, transport and refining companies specializing in gold and silver.
The investment strategy of the State Oil Fund, approved by Azerbaijani President Ilham Aliyev on December 29, 2011, will allow up to 5% of the investment portfolio to be spent on gold.
$29,629.98 million were invested in 2011, 99.43% of the sum as part of assets of the fund.
